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FINANCE AND INVESTMENT 82-83 Robert B. Zoellick President, The World BanKModernising Multilateralism 84-85 Pascal Lamy Director General, World Trade Organization (WTO)Environmental Negotiations - Making the WTO Part of the Toolbox HEALTH 86-89 Dr Maria Neira Director, Department of Public Health and Environment, World Health Organization (WHO)Rio at the Intersection of Health and Sustainability SMART CITIES90-95 Peter Löscher President of the Managing Board and CEO, Siemens AGIt Is Time to Act - Now!96-97 Jane Henley CEO, Chief Executive Officer, The World Green Building Council (WGBC)Energy Efficiency - a Lasting Legacy98-99 Hongyan Annie Xu Senior Vice-President, Smart Cities, Schneider Electric The Sustainability Battle Will Be Won - or Lost - in the CitiesINNOVATION TECHNOLOGY100-103 Mark Kenber CEO, The Climate GroupLeadership for a Clean Revolution104-105 Shiro Kondo President and CEO, Ricoh Company LtdSolid Sustainable Environmental Management for the Growth of Business and Society106/107 Martin Hart Chairman, Business Application Software Developers Association (BASDA) Tony BrayCouncil Member, BASDASoftware Industry Sets the Standards for a Green Business Economy Published in Association withSUSTAINABLE BUSINESS108-109 Sir Paul Judge Chairman, International Green Awards Join the Global Conversation - Make the Future You Want 110-111 David BeerManaging Director, IndustryRE SustainabilityThe Sustainability Business Imperative112-113 Laura Storm Executive Director, SustainiaSUSTAINIA: The Sustainable Society of Tomorrow114-115 Dr Kevin Dooley Academic Director, The Sustainability ConsortiumCollective Heroics: The Next Phase of the Sustainability RevolutionGREEN SUPPLY CHAIN116-119 Xavier Houot Partner, Sustainability Services, BearingPointAndreas Merbecks Partner, Business Strategy and TransformationOnly Scratching the Surface Will Not Get Us Far EnoughTRANSPORT AND MOBILITY120-121 Ivan Hodac Secretary-General, European Automobile Manufacturers' Association (ACEA)Continuing Mobility122-125 Carlos Ghosn Chairman and CEO, The Renault-Nissan AllianceThe Age of the Electric Vehicle Is NowTOURISM126/127 Dr Taleb Rifai Secretary-General, The United Nations World Tourism Organization (UNWTO) International Tourism at One Billion: Meeting the Climate ChallengeSUMMATION128/129 Angel Gurria Secretary-General, The Organisation for Economic Co-Operation and Development (OECD)Green Growth: A Sustainable Future for Allthe new economy 0139470

FOREWORDDr James E. Hansen, Head of the NASA Goddard Institute for Space Studies Adjunct Professor, Columbia University's Earth Institute If we are to preserve a planet resembling the one on which civilisation developed, a world that avoids the economic devastation of continually receding shorelines and the moral nightmare of having exterminated a large fraction of Earth's species, we need to act now. The science is clear: burning most fossil fuels would invoke dire consequences. There is a basis for optimism, though, as phase out of fossil fuel emissions would have many other benefits. However, the next policy approach must not repeat the basic mistakes that doomed the Kyoto Protocol. Wasting another 15 years on an ineffectual approach would sentence today's young people to a catastrophic future.Kyoto ProtocolThe Kyoto Protocol was ineffectual in reducing global fossil fuel CO2 emi ssions. Indeed, the emissions growth rate doubled, from 1.5 to 3 per cent per year, following its adoption. A fundamental flaw of the Kyoto approach was its "cap" mechanism, which embodies two ineluctable problems. First, it is impossible to find a formula for emission caps that is equitable among nations and also reduces emissions at the rate required to stabilise climate. Second, it fails to provide clear price signals that would reward businesses, individuals and nations that led the way in reducing emissions. Validity of the first assertion is proved by comparing national responsibilities for climate change, which are proportional to cumulative historical emissions. The United Kingdom, United States, and Germany have per capita responsibilities exceeding those of China and India by almost a factor of ten. Even if the UK, US and Germany terminated emissions tomorrow, by the time China, India and other developing nations reached comparable responsibility for climate change the world would be headed to certain climate disasters.Fe and DividendFee and dividend has a flat fee (per ton of CO2) collected from fossil fuel companies on domestic sales of all fossil fuels. Collection cost is trivial at the small number of collection points: the first sale at domestic mines and the port-of-entry for imported fossil fuels. All funds collected are distributed electronically (to bank account or debit card) monthly to legal residents of the country in equal per capita amounts. Citizens using less than average fossil fuels (more than sixty per cent of the public with current distribution of energy use) receive more in their monthly dividend than they pay in increased prices. All people have an incentive to reduce their carbon footprint to stay on the positive side of the ledger.The carbon fee should rise at a rate that sows benefits of economic stimulation while minimising economic disruptions from sudden change. Economic efficiency will improve as the price of fossil fuels rises toward a level that matches their cost to society. Fossil fuels are the dominant energy today, and are used wastefully, because the human health and environmental costs are externalised onto society as a whole rather than being internalised into their prices.As the urgency of the climate threat grows, the international community must recognise that all nations are in the same boat. As long as fossil fuels 014 Foreword